Once you've narrowed your search to a few areas within your target community, look at lots and lots of properties! Realtors can be a big help, not only by showing you individual properties, but by telling you about the area in general. It's not necessary to restrict yourself to one Realtor. Often several will be able to help you. If one Realtor is too pushy for you or isn't showing you the type of properties that interest you, find another one.
And don't forget to watch the newspapers and check out properties in your price range and area of interest being offered for sale by owner. Sometimes the best deals can be had by working with owners. Depending on what state you're in, a competent attorney, escrow company, or title company can handle the closing for you.
When you do find a property you like, don't let it blind you to its drawbacks. Whether or not you're working with a Realtor, do your homework. Remember, unless your Realtor is a buyer's agent, he or she is working for the seller. Most Realtors will be up front with you about all your questions, but they are also bound by contract to get the best possible price for their client, the seller.
What questions to ask
First, ask the seller or Realtor all the questions you can about the property. For an older dwelling, this might include questions about the age of the wiring and plumbing, type of foundation, and in some parts of the country, when it was last checked for insect problems.
Then talk to the neighbors. In the rural sense, the "neighbors" are folks living within a five-or-so-mile radius of the property. Ask them about the area, its people, any problems with the area, and particularly if they know of any drawbacks with the property you are considering purchasing. If they seem reluctant to talk to you, this might be a red flag you shouldn't ignore: maybe they'd like to buy the property but can't afford it, or maybe they don't like outsiders buying property in their area. If you run up against this in several conversations, you might have a hard time getting along with the neighbors.
Use the County Resources
Next, a trip to the courthouse is in order to check the legal description and valuation of the property. Some counties value property at or close to actual valuation; others use a percentage. Find out from the folks in the county assessor's office (they're almost invariably courteous and helpful) what method the county uses to value property and how it compares with actual selling prices. These people can often be a relatively unbiased source of information on other questions you may have about a particular area. And use the telephone! They're just as helpful long distance as they are in person, and you can save the valuable time you have allotted to investigate an area for looking at actual properties instead of wading through county documents.
Buying -- and holding onto -- that chunk of land will take creative planning, patience, and caution on your part.
Find out about future growth
Today's expensive properties will be tomorrow's bargains. Don't be discouraged by short term obstacles. Land prices never go down in the long run.
After ten years in north Idaho, the writers became disenchanted with the depressed economy and even more depressing weather. They relocated to a 6,000 population bedroom community of a 25,000 population town in Arizona. This booming, thriving community was founded only a few short decades ago in what was once called Jackass Flats, a supposedly worthless tract of cactus and sagebrush no one thought would ever be anything but wasteland.
Four years later, the writers realized that "Jackass Flats" had become "Refugee Gulch." Frustrated urban dwellers, mostly from southern California, had discovered the central Arizona community and were descending on it in droves. Designation of the community by a national magazine as one of the ten best retirement meccas in the nation only served to hasten the rush to the desert oasis. Big city problems were beginning to plague the "retirement mecca." It was time to move on.
Obviously, there are a lot more things to consider when buying rural land as opposed to buying a house in a city. One of them is the possible problems of buying in a "boom town" area when you don't want to be part of the boom. It is important to consider whether your dream location will become less desirable as more people relocate there. For this reason it is not uncommon for people who move to a rural area to want to "close the gate" after they get there. They realize that if too many people move to the small community they have chosen, that it will eventually lose the qualities that drew them there in the first place. Unfortunately, people WILL find these wonderful places, no matter how hard some people try to keep them a secret.
Some communities handle growth well, others don't. Check to see what kind of planning and zoning is present in your chosen area. A community that looks ahead and plans for growth fares much better than communities that keep their heads in the sand, thinking "it can't happen here." Growth not only can happen, it will.
But short of a natural disaster or a devastating man-made calamity, land won't come down in value. Buy it, use it, live on it, improve it, and love it. Land is the best investment you'll ever make, for yourself and posterity.
Good luck in your search! Rural Property Bulletin is a tool that can help you find the place of your dreams.
Copyright © 2004 Rural Property Bulletin
"Rural Property Bulletin -- The National Marketplace for Rural Property Since 1980."
Author info: Sandy Benson has published Rural Property Bulletin since 1980.